U.K. fines Credit Suisse, others $6.4 million

SimonKennedy

LONDON (MarketWatch) -- The U.K. Financial Services Authority said Thursday that it has fined Credit Suisse
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market maker Getco Europe and Nomura
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subsidiary Instinet a total of 4.2 million pounds ($6.4 million) for failing to provide accurate trading reports to the regulator. The FSA said all three firms were found to have committed multiple breaches of rules that require them to provide information on all their trades, including the identity of the counterparty, the product traded and the price. Credit Suisse was fined 1.75 million pounds, Getco paid 1.4 million pounds and Instinet was fined 1.05 million pounds. In the case of Credit Suisse, the FSA said the bank failed to report all its 30 million transactions on the London Stock Exchange between Nov. 5, 2007 and Nov. 20, 2008 and inaccurately reported a further 10 million transactions in the period.

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